Thursday, January 20 2005 13:54 Hrs (IST) - World Time -

Bangalore: Biocon today (Jan 20, 2005) reported a net profit of Rs 50 crore for the third quarter ended December 2004, up by 44 per cent over Rs 35 crore registered during the corresponding quarter last fiscal.

Revenues stood at Rs 183 crore, a 31 per cent jump over Rs 139 crore during the corresponding period last year, a company statement in Bangalore said.

"I am pleased to report a strong third quarter. Our business continues to expand and all sectors recorded healthy growth despite challenging conditions in the European Stapins (cholesterol reducing molecule) market.

Our recently announced collaboration with Nobes and Vaccinex have both made a good start. We remain on track in meeting our strategic and financial target for the year", Kiran Majumdar, Chairman and Managing Director, said.